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Bank OCBC NISP to distribute cash dividends of IDR 504.8 billion

05 April 2022 18:04

JAKARTA. PT Bank OCBC NISP Tbk (NISP) has obtained approval from its shareholders regarding its plan to allocate 20% of the 2021 net profit, amounting to IDR 504.8 billion, as cash dividends.

The said arrangement was agreed upon during the Annual General Shareholders Meeting held earlier today (5/4). In the said meeting, NISP’s shareholders also decided to allocate general reserve funds of IDR 100 million and retained earnings of IDR 2 trillion.

For the record, NISP managed to score a net profit of IDR 2.5 trillion throughout 2021. The net profit by the end of the year grew 20% from the number recorded in 2020.

NISP’s considerable net profit in 2021 was constructed by net interest income, which increased 7% year-on-year (yoy), and other operational income increase of 8% yoy. Furthermore, the impairment of credit losses reportedly went down 7% yoy.

In addition to settling the net profit allocation, NISP also secured the required seal of approval to hold the shares buyback. It was mentioned that the number of shares to be repurchased in the buyback would reach 436 thousand units as a way to distribute variable remunerations. (KR/ZH)

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